In Asian Equity Markets Japan’s Nikkei 225 declined 0.37 percent, as most sectors traded in negative territory, although gains were seen in the oil and mining sectors. Elsewhere, South Korea’s benchmark Kospi edged down by 0.14 percent. Despite the index’s overall decline, gains were still seen in petroleum refiners, with S-Oil and SK Innovation up 1.42 percent and 1 percent, respectively. Hong Kong’s Hang Seng Index hovered around the flat line, last inching higher by 0.01 percent. Amid the sideways trade, the energy sector was up 1.49 percent in the morning as CNOOC rose 1.66 percent. The Shanghai composite slipped 0.21 percent and the Shenzhen composite eased by around the same level.

In Currency Markets the US dollar rose to a six-day high against the yen on Wednesday as crude oil prices rallied and pushed Treasury yields higher after U.S. President Donald Trump pulled out from an international nuclear deal with Iran. The greenback also gained on the euro as concerns about Italian political turmoil hurt the common currency. The dollar was 0.3 percent higher at 109.480 yen after touching 109.640, its highest since May 3. The Australian dollar extended its overnight slide to touch an 11-month low of $0.7424. Pressured by the dollar’s broad strength, the Aussie has slid despite an upbeat budget from the country’s government.

In Commodities Markets oil prices rose more than 2 percent on Wednesday, with Brent hitting a 3-1/2-year high, after U.S. President Donald Trump abandoned a nuclear deal with Iran, likely curbing the OPEC member’s crude exports in an already tight market. Trump on Tuesday pulled the United States out of an international nuclear deal with Iran that was agreed in late 2015, raising the risk of conflict in the Middle East and casting uncertainty over global oil supplies. Brent crude oil futures rose to a session high of $76.75 per barrel, their highest since November 2014. U.S. West Texas Intermediate (WTI) crude futures were up 2.3 percent, at $70.67 a barrel, close to highs also last seen in late 2014.

In US Equity Markets indices cut losses to end little changed on Tuesday while energy stocks rallied after U.S. President Donald Trump said the United States would quit the Iran nuclear deal, confirming what many investors had expected. The S&P energy sector erased earlier losses to end the day up 0.78 percent. Comcast fell 5.56 percent after Reuters reported the cable operator is preparing to make an all-cash offer for media assets that Twenty-First Century Fox has agreed to sell to Disney for $52 billion. After the bell, Disney edged up 0.5 percent after it reported its quarterly results that were powered by the hit superhero movie “Black Panther”.

In Bond Markets Japanese government bond prices were little changed across the board on Wednesday, as a retreat by U.S. Treasuries neutralized support from the Bank of Japan’s regular debt-buying operation. The five-year JGB yield rose half a basis point to minus 0.105 percent. The 10-year and 20-year yields were unchanged at 0.045 percent and 0.525 percent, respectively. Treasury prices fell and the benchmark 10-year yield climbed towards the 3 percent threshold. The BOJ on Wednesday offered to buy 1.03 trillion yen ($9.41 billion) of one- to 10-year JGBs as part of its regular debt-purchasing scheme.